Wiki Selling TSLA Options - Be the House

[Jim Holder]

Mid-day update:

12/29

1/5

 

[thenewguy1979]

Learn some new lessons this week.

Don't close the short legs on a condor to ride potential bounce up or down. lost compounded. just roll if possible.
Don't get greedy....used Algo on Tuesday looking for a quick fix. 254 never happen....

Crazy dog sometimes just want to learn the hard way. You can tell my just looking at his snarky face

 

[juanmedina]

Decided to close my purchased puts and 270/300 call expiring tomorrow. I am still biased down, which means i am walking away from a significant gain if i am right about down from here.

BUT when i woke up this morning the stomach acid was churning about being wrong and watching the share price go up today and/or tomorrow. In similar positions in the past I decided to wait it out, give it a few days, and see what evolves. Those mostly proved to be a bad choice . The positions were minorly profitable which probably made it easier to just get back out of those.

I'll be looking to re-enter soon, but at the moment I'm counting my 3 digit loot and feeling the stomach acid retreat. Even though the share price has continued down from when I closed, still happier.

BCS and stomach acid go together. I sold BCS this week and closed them also but I was super stressed with cash covered pus and covered calls I sleep like a baby.

I have $255 and $260cc for Friday and I am not stressed at all. I still have my $270's for Friday and $285cc and $290 for next week. I am thinking about selling $245-240p for next week. Currently at $2.3 for the $245's which is decent IMO.

 

[dl003]

BCS and stomach acid go together. I sold BCS this week and closed them also but I was super stressed with cash covered calls and covered call I sleep like a baby.

I have $255 and $260cc for Friday and I am not stressed at all. I still have my $270's for Friday and $285cc and $290 for next week. I am thinking about selling $245-240p for next week. Currently at $2.3 for the $245's which is decent IMO.

You know babies wake up and cry to be fed every 3 hours right?

 

[BornToFly]

News on X about Tesla getting closer to factory in India (Bullish). Also have record P&D on Tuesday. Yet TSLA Red today and NIO and RIVN Green. Oh well. Probably TSLA green tomorrow.

 

[Jim Holder]

News on X about Tesla getting closer to factory in India (Bullish). Also have record P&D on Tuesday. Yet TSLA Red today and NIO and RIVN Green. Oh well. Probably TSLA green tomorrow.

Did you manage to cut the 1,000 day trade shares or holding out?

 

[Max Plaid]

Impressive capping going on today…

News on X about Tesla getting closer to factory in India (Bullish). Also have record P&D on Tuesday. Yet TSLA Red today and NIO and RIVN Green. Oh well. Probably TSLA green tomorrow.

Indeed, weird price action all things considered. Summary: it sucks!

 

[thenewguy1979]

News on X about Tesla getting closer to factory in India (Bullish). Also have record P&D on Tuesday. Yet TSLA Red today and NIO and RIVN Green. Oh well. Probably TSLA green tomorrow.

got my 265c still holding just in case....

 

[dl003]

News on X about Tesla getting closer to factory in India (Bullish). Also have record P&D on Tuesday. Yet TSLA Red today and NIO and RIVN Green. Oh well. Probably TSLA green tomorrow.

to be fair, we're massively down from levels since before Austin and Berlin opened and we've kept making record P&D quarter after quarter. If I was scratching my head every time it went down on "bullish" news I'd probably have lost all my hair by now, which may or may not be true.

 

[thenewguy1979]

Impressive capping going on today…

Indeed, weird price action all things considered. Summary: it sucks!

mmm...maybe Algo predicted a recovery??

..or just broken?

 

[bopdit00]

mmm...maybe Algo predicted a recovery??

..or just broken?

View attachment 1003754

looks broken to me. It's been stuck there.

 

[tivoboy]

Bond auctions for the week over, time to “let the drummer kick”

or, let $DXY recover a bit, before the next auction.

 

[dl003]

I count 5 waves down for the 1st leg so probably going to do a 2nd leg after reaching one of the colored levels here. Whether this 2nd leg down is a wave C or a wave 3 depends on P&D. I see 257 as the head scratcher level for this suspense, meaning we may start the 2nd leg later today or early tomorrow and stop short of 257 going into the weekend.

The fact that it broke down from the falling wedge gives 247 a very high legitimacy, which means it more likely than not will drop after P&D. The question is will 247 act as a bear trap or a bear refueling station.
View attachment 1003729

This count was wrong. An extended wave 1 is now the count. As there is no more room to drop for this leg, I bought some 260C exp tomorrow. If TSLA trades below 256 I will get out as it'll be something else entirely different.

 

[Blue horseshoe]

This count was wrong. An extended wave 1 is now the count. As there is no more room to drop for this leg, I bought some 260C exp tomorrow. If TSLA trades below 256 I will get out as it'd be something else entirely different.
View attachment 1003755

Coupled with algo flow I'm continuing to hold some 262.5c exp tomorrow I purchased earlier today. Playing with peanuts but curious to see how algo flow trades thurs/Fri vs earlier in the week

Edit: 262.5 not 162.5 calls

 

[BornToFly]

Did you manage to cut the 1,000 day trade shares or holding out?

I screwed up. When the SP finally went up to 261.75 I started to place a stop loss at 261 just in case, but never confirmed the order. So now I'm sitting on a loss but will wait until tomorrow. If anything, I will use the new shares for aggressive ATM CCs.

 

[Jim Holder]

This week’s max-pain is 250. Do you expect it to close near there?

Magic…have a look at current price

 

[BornToFly]

We may close the day on support around 256, but then I would expect a Green Day tomorrow.

 

[intelligator]

Being that we didn't break 260 today, I am going to leave -c275 and -c277.5 , 25 wide BCS to expire. I could snag them high 80's % but it seems unlikely these will be at risk. Also expiring Friday are -p232.5/+p200 that I opened last week. Feels good , anticipating , to close out the year on a positive note. I did make adjustments; flying further from the sun, scaling in mid-week, rinse and repeat when possible. Thanks all for your shared insights and commentaries, couldn't have done any of this without those inputs.

 

[thenewguy1979]

This count was wrong. An extended wave 1 is now the count. As there is no more room to drop for this leg, I bought some 260C exp tomorrow. If TSLA trades below 256 I will get out as it'll be something else entirely different.
View attachment 1003755

got +260C/-267.5C

holding my early this week +265C still

Let close out this year with some green shall we guys?

 

[EVNow]

I still have 265 CC from 2 weeks back. I held on and didn't panic even though just after 2 days SP went up nearly $20. Just going by the resistance around 260 ... and lack of any news. I'm now thinking the SP will close below 265 (may be 255 / 260) depending on what the market does tomorrow.

ps : Not planning opening any options over the weekend since delivery numbers will come out on 1st/2nd ....